Suncor Energy Inc. (NYSE:SU) is Gold Investment Management Ltd.’s 10th Largest Position

Gold Investment Management Ltd. lessened its stake in shares of Suncor Energy Inc. (NYSE:SU) (TSE:SU) by 0.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 142,396 shares of the oil and gas producer’s stock after selling 1,188 shares during the quarter. Suncor Energy makes up 2.2% of Gold Investment Management Ltd.’s investment portfolio, making the stock its 10th biggest position. Gold Investment Management Ltd.’s holdings in Suncor Energy were worth $5,254,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SU. BNP Paribas Financial Markets boosted its stake in shares of Suncor Energy by 2,358.4% in the first quarter. BNP Paribas Financial Markets now owns 17,209 shares of the oil and gas producer’s stock valued at $635,000 after purchasing an additional 16,509 shares during the period. Empowered Funds LLC purchased a new position in shares of Suncor Energy in the first quarter valued at approximately $2,940,000. Assenagon Asset Management S.A. boosted its stake in shares of Suncor Energy by 90.9% in the second quarter. Assenagon Asset Management S.A. now owns 8,299,876 shares of the oil and gas producer’s stock valued at $316,226,000 after purchasing an additional 3,951,287 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Suncor Energy by 5.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,529,253 shares of the oil and gas producer’s stock valued at $683,916,000 after purchasing an additional 1,031,542 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Suncor Energy by 56.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,636 shares of the oil and gas producer’s stock valued at $2,054,000 after purchasing an additional 20,101 shares during the period. Hedge funds and other institutional investors own 67.37% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on SU. Wolfe Research began coverage on shares of Suncor Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $68.00 price objective for the company. BMO Capital Markets raised shares of Suncor Energy from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 7th. Scotiabank decreased their price target on shares of Suncor Energy from $61.00 to $60.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. TD Securities upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Suncor Energy from a “hold” rating to a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.83.

Suncor Energy Stock Performance

Shares of Suncor Energy stock opened at $39.17 on Friday. The firm’s fifty day simple moving average is $38.39 and its 200-day simple moving average is $38.75. The stock has a market capitalization of $49.42 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 2.78 and a beta of 1.12. Suncor Energy Inc. has a 12 month low of $29.45 and a 12 month high of $41.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.46 and a quick ratio of 0.93.

Suncor Energy (NYSE:SU) (TSE:SU) last announced its earnings results on Tuesday, August 6th. The oil and gas producer reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.51. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $9.30 billion. Suncor Energy had a net margin of 14.40% and a return on equity of 16.22%. The company’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. As a group, equities analysts forecast that Suncor Energy Inc. will post 3.53 earnings per share for the current year.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.